Notes to SEFA
Title: Scope of this Schedule
Accounting Policies: 1. Expednitures reported on the schedule are reported on the accural basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain type of expeditures are not allowable or are limited as to reimbursement. 2. The Redevelopment Authority of Monroe County did not elect to use the 10-percent de minimus indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
The schedule of expenditures of federal awards reflects federal expenditures for all individual grants which were active during the fiscal year.
Title: Basis of Presentation
Accounting Policies: 1. Expednitures reported on the schedule are reported on the accural basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain type of expeditures are not allowable or are limited as to reimbursement. 2. The Redevelopment Authority of Monroe County did not elect to use the 10-percent de minimus indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Redevelopment Authority of Monroe County under programs of the federal government for the year ended December 31, 2023. The information in this schedule is presented in accordance with the requirement of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presented only a selected portion of operations of Redevelopment Authority of Monroe County it is not intended to and does not present the financial position, changes in net assets or cash flows of the Redevelopment Authority of Monroe County.
Title: Non-Cash Awards
Accounting Policies: 1. Expednitures reported on the schedule are reported on the accural basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain type of expeditures are not allowable or are limited as to reimbursement. 2. The Redevelopment Authority of Monroe County did not elect to use the 10-percent de minimus indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
There were no federal awards expended in the form of noncash assistance and insurance in effect during the year.
Title: Sub-Recipients
Accounting Policies: 1. Expednitures reported on the schedule are reported on the accural basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain type of expeditures are not allowable or are limited as to reimbursement. 2. The Redevelopment Authority of Monroe County did not elect to use the 10-percent de minimus indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
There were no federal awards passed through to subrecipients during the year.